Answer the following questions about the Florida Construction Company and the Qatar Tunnel Company:

a. Does Mr. East agree that at the end of 2016, his company made a higher profit from the project than the Florida Construction Company had earned from the project? Evidence must be provided to support your position.

B. Does Mr. West agree that his company has increased its total assets from the project at the end of 2016 compared to the method used by Qatar Tunnel Company (please focus only on construction work in progress, invoices on construction contract and receivables)? Evidence must be provided to support your position.

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The following information pertains to Florida Construction Company and Qatar Tunnel Company: Costs incurred Estimated costs up to during the year the end of the year Invoices during the year Cash receipts during the year 2014 2015 2017 2016 96,250 2018 2019 62,500 2021 60,000 2022 38,750 50,000 2020 44,063 399,063 62,188 29,688 520,000 470,000 425,000 318,000 209,000 123,000 78,000 45,000 337,500 156,250 212,500 141,875 151,875 187,734 97,109 125,234 89,922 287,500 187,500 212,500 137,500 175,000 165,625 115,625 128,125 90,625 The following information pertains to Florida Construction Company and Qatar Tunnel Company: Costs incurred Estimated costs up to during the year the end of the year Invoices during the year Cash receipts during the year 2014 2015 2017 2016 96,250 2018 2019 62,500 2021 60,000 2022 38,750 50,000 2020 44,063 399,063 62,188 29,688 520,000 470,000 425,000 318,000 209,000 123,000 78,000 45,000 337,500 156,250 212,500 141,875 151,875 187,734 97,109 125,234 89,922 287,500 187,500 212,500 137,500 175,000 165,625 115,625 128,125 90,625

Answer rating: 100% (QA)

a Yes Mr East does agree that at the end of 2016 his company made a higher profit from the project t... View the full answer